Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

there are 3 parts. please make sure you do ALL 3 PARTS! also please only dk it on the computer i cant read handwritten work

there are 3 parts. please make sure you do ALL 3 PARTS! also please only dk it on the computer i cant read handwritten work thanks image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The adjusted trial balance for Chiara Company as of December 31 follows Credit Debit $ 131,700 52,500 19,800 169.000 16,500 175,000 45.000 144.000 10,000 80,000 Cash ACCOUNTS receivable Interest receivable Notes receivable due in 90 days) office supplies Automobiles Accumulated depreciation Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Intereat payable Salarios payable Unearned teen Long-term notes payable Common stock Retained earnings Dividends Yees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment salaries expense Wages expense Interest expense office supplies expense Advertising expense Repair expense-Automobiles Totals 102,000 45.000 16,000 40,000 148,000 24.580 221,220 45,000 574.000 32.000 26,000 20,000 190.000 43.000 32,200 35,600 59.500 26,000 $1,265,000 $1,265,000 Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31: (b) the statement of retained earnings for the year ended December 31[Note Retained Earnings at December 31 of the prior year was $221,220); and (c) the balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 CHIARA COMPANY Balance Sheet December 31

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting A Systems Approach

Authors: Alison Warman, Jeff Davies

1st Edition

1861520379, 978-1861520371

More Books

Students also viewed these Accounting questions

Question

What do items 2636 measure?

Answered: 1 week ago